Bank of Scotland Reports Increase
Of 36% on Gain From Asset Sales

LONDON -- Bank of Scotland PLC edged past 1 billion pounds ($1.61 billion) in pretax profit for the first time, but needed one-time gains from asset sales to achieve the feat.

At the same time, the bank defended its recent decision to launch a telephone bank in the U.S. with broadcast preacher Pat Robertson. That venture has sparked protests from depositors who dislike Mr. Robertson's politics, although a bank executive said the...